Alumis Inc. (ALMS) intrinsic value & 10-year financials

Alumis Inc. (ALMS) has no Graham intrinsic value right now because the formula needs positive earnings. Over the last 4 fiscal years revenue reached to $24.1M, with an average return on invested capital of 19.9%.

Graham intrinsic value
—
Share price (Oct 17, 2026)
$6.12
Market cap
$520.4M
Revenue (FY2025)
$24.1M
ROIC (10-yr avg)
19.9%
Free cash flow (FY2025)
-$370.2M

ALMS 10-year financial history

Fiscal year Revenue Net income EPS (diluted) Free cash flow Operating margin ROIC
FY2025 $24.1M -$243.3M -$2.86 -$370.2M -1886.9% -241.1%
FY2024 — -$294.2M -$3.46 -$256.8M — 256.3%
FY2023 — -$155.0M -$1.85 -$134.5M — 44.6%
FY2022 — — — — — —

Source: annual 10-K filings on SEC EDGAR. Figures in USD.

Executive summary

ALUMIS INC. revenue growth over the past decade is N/A; insufficient history prevents a reliable 10-year CAGR calculation.

ALUMIS INC. returns on capital have been average, hovering around 14.9% ROIC over the decade.

ALUMIS INC. capital allocation metrics are N/A for the decade; share count and net debt history are incomplete.

Benjamin Graham lens

ALUMIS INC. is evaluated under Benjamin Graham's defensive framework using SEC EDGAR fundamentals using an 8.5 + 2g earnings multiple and a 5.1% AAA bond-yield baseline.

ALMS stock: frequently asked questions

What is the intrinsic value of Alumis Inc. (ALMS) stock?

Graham's formula only works with positive earnings. Alumis Inc. reported diluted EPS of -$2.86 in fiscal 2025, so no Graham value is shown. The 10-year table shows revenue and cash-flow trends instead.

Does Alumis Inc. generate free cash flow?

Alumis Inc. generated -$370.2M of free cash flow (operating cash flow minus capital expenditures) in fiscal 2025. Free cash flow was positive in 0 of the last 3 reported years.

What is ALMS's return on invested capital?

Average ROIC over the last 4 fiscal years was 19.9%, and average return on equity was 238.2%. Sustained ROIC above about 15% usually points to a durable competitive advantage.

Where does this ALMS data come from?

From Alumis Inc.'s annual 10-K filings on SEC EDGAR, most recently filed May 14, 2026. Prices are end-of-day snapshots; valuations are formula outputs, not investment advice.

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